Kevin Turner, who joined Citadel Securities as chief executive officer after a career that led from Wal-Mart cashier to the top-paying job at Microsoft Corp., is leaving the market-making firm just months after he was hired.

The Securities and Exchange Commission has announced that Citadel Securities LLC has agreed to pay $22.6 million to settle charges that its business unit handling retail customer orders from other brokerage firms made misleading statements to them about the way it priced trades.

Wells Fargo Securities has announced an agreement with Citadel Securities under which Wells Fargo Securities has hired a team of approximately 25 investment banking professionals and related administrative staff from Citadel Securities.

Kevin Turner, who joined Citadel Securities as chief executive officer after a career that led from Wal-Mart cashier to the top-paying job at Microsoft Corp., is leaving the market-making firm just months after he was hired.

The Securities and Exchange Commission has announced that Citadel Securities LLC has agreed to pay $22.6 million to settle charges that its business unit handling retail customer orders from other brokerage firms made misleading statements to them about the way it priced trades.